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Bechtel to start building motorway in Serbia in Q3 - President Vucic

Author Radomir Ralev
Bechtel to start building motorway in Serbia in Q3 - President Vucic Aleksandar Vucic; Source: Serbia's President's Office

BELGRADE (Serbia), March 15 (SeeNews) - Serbia expects US civil engineering group Bechtel to start the construction of a motorway linking European transport Corridors X and XI on the country's territory in the third quarter of 2019, president Aleksandar Vucic said.

The construction of the motorway is expected to begin in the third quarter of this year, when the project documentation and land expropriation should be completed, Vucic said during a meeting with Bechtel officials in Belgrade, as quoted in a statement by his office.

Vucic discussed different financing models for the project with representatives of the Export-Import Bank of the United States, the Overseas Private Investment Corporation (OPIC), Bank of America and UK Finance, who were also present at the meeting, the statement added.

In October, the government signed a memorandum of understanding with Bechtel for the construction of the 110-km long motorway which will link Cacak to Krusevac, in central Serbia. The investment in project will total 800 million euro ($905.8 million), the government said back then.

Corridor X will connect Salzburg in Austria to the Greek port of Thessaloniki, passing through Slovenia, Croatia, Serbia and Macedonia. Corridor XI is a ferry/motorway corridor linking Italy's Bari to Romania's Bucharest via Montenegro's Bar port and Serbia's Belgrade.

($ = 0.8832 euro)